Critical path method, earned value, scheduling, cost estimating, safety, and construction materials such as concrete mixes.
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- What is the critical path in a project network?
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The longest sequence of dependent activities that determines the minimum project duration.- What does slack or float mean in CPM analysis?
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The amount of time an activity can be delayed without delaying the project completion date.- What determines the minimum project duration in a CPM network?
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The length of the critical path.- What is the difference between total float and free float?
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Total float is the delay allowed without delaying project completion; free float is the delay allowed without delaying the next activity.- What is a dummy activity in a CPM network diagram?
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A zero-duration activity used to show logical dependencies without consuming time or resources.- What does a forward pass calculate in CPM?
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The earliest start and earliest finish times for each activity.- What does Earned Value (EV) represent?
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The value of work actually completed, based on the approved project budget for that work.- What is the Cost Performance Index (CPI)?
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The ratio of Earned Value to Actual Cost: CPI = EV / AC. A CPI greater than 1 means the project is under budget.- What is the Schedule Performance Index (SPI)?
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The ratio of Earned Value to Planned Value: SPI = EV / PV. An SPI greater than 1 means the project is ahead of schedule.- What is the Estimate at Completion (EAC)?
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The projected total cost of the project at completion, calculated as BAC / CPI.- What does BCWP stand for?
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Budgeted Cost of Work Performed. It is the same as Earned Value (EV).- What does BCWS stand for?
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Budgeted Cost of Work Scheduled. It is the same as Planned Value (PV).- What does ACWP stand for?
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Actual Cost of Work Performed. It is the same as Actual Cost (AC).- What is the Variance at Completion (VAC)?
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The difference between Budget at Completion and Estimate at Completion: VAC = BAC - EAC. A positive VAC means the project is under budget.- What is a Gantt chart?
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A horizontal bar chart that shows project tasks, their durations, and their relationships over time.
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